The U.S. In Vitro Diagnostics (IVD) Market is expected to extent at a CAGR of 4.7%, USD 25.99 billion from 2015 to 2020.
In vitro diagnostics testing is an indispensable tool in the modern medical practice. IVD tests are conducted with the help of various medical devices for the diagnosis of a number of diseases. With evolution in biotechnology, there has been a drastic change in the type of tests conducted for diagnosing various diseases, thus helping physicians to diagnose and treat diseases promptly and effectively.
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The most important trend witnessed recently in the U.S. In Vitro Diagnostics (IVD) industry is the trend of self-testing as opposed to patients visiting hospitals. This is a key factor driving the growth of point-of-care testing, as patients prefer self-testing to avoid hospital visits. IVD tests have a significant role in the prevention, monitoring, diagnosis, and treatment of diseases. Common In Vitro Diagnostics (IVD) tests include blood tests for glucose, tests for detection of electrolytes (calcium, sodium, and potassium), liver enzymes, and drug tests.
Key Market Drivers of In Vitro Diagnostics (IVD) Industry:
- Rapid growth in geriatric population and increasing incidence of chronic diseases in the U.S.
- Increasing adoption of point-of-care (POC) testing
- Growing awareness on personalized medicine
- Rise in reagent rental agreements
- Implementation of the Affordable Care Act (ACA)
- Increasing adoption of automated instruments and automation in laboratories
Market Restraints of In Vitro Diagnostics (IVD) Industry:
- Unfavorable reimbursement scenario
- Rising healthcare costs and low budgets
- Condition-specific markers and tests with advances in genomics and proteomics
Challenges in In Vitro Diagnostics (IVD) Industry:
- Stringent regulatory framework
The Major Players in the U.S. In Vitro Diagnostics (IVD) market are
- Roche Diagnostics Limited (Switzerland),
- Abbott Laboratories, Inc. (U.S.),
- Becton, Dickson and Company (U.S.),
- Johnson & Johnson (U.S.),
- Danaher Corporation (U.S.),
- Thermo Fisher Scientific, Inc. (U.S.),
- Siemens Healthcare (Germany),
- Bio-Rad Laboratories, Inc. (U.S.),
- Sysmex Corporation (Japan),
- QIAGEN N.V. (Netherlands),
- Alere Inc. (U.S.),
- Ortho-Clinical Diagnostics Inc. (U.S.),
- bioMérieux (France)
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The rising incidence of chronic and infectious diseases, rapidly aging population, growing preference for point-of-care testing and personalized medicine, implementation of the Affordable Care Act (ACA), increasing demand for automated instruments, and automation in laboratories are key factors driving the In Vitro Diagnostics (IVD) market in the U.S. In this report, the market is segmented by product & service, technology, application, end user, and region.
The U.S. In Vitro Diagnostics (IVD) product & services market is broadly segmented into reagents, instruments, services, and data management system/software. The instruments market is further segmented into fully automated instruments, semi-automated instruments, and other instruments. The fully automated instruments segment accounted for the largest share of the U.S IVD instruments market in 2014. The increasing number and complexity of tests, coupled with a shortage in laboratory staff, is driving the greater adoption of fully automated instruments in laboratories.
On the basis of end user, the U.S. In Vitro Diagnostics (IVD) market is segmented into hospital laboratories, clinical/independent laboratories, and others. In 2014, the hospital laboratories segment accounted for the largest share of the U.S. In Vitro Diagnostics (IVD) market in the U.S. The high inpatient flow and ancillary outpatient flow in hospitals, growing prevalence of chronic and infectious diseases, and increasing number of accredited laboratories are key factors driving market growth in this end-user segment.
Reasons to Buy the In Vitro Diagnostics (IVD) Report:
The In Vitro Diagnostics (IVD) industry report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater market share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for reaping greater market shares.
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In Vitro Diagnostics (IVD) report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by top players in the U.S. IVD market. The report analyzes the U.S. IVD market by product, technology, end user, and application across all regions.
- Product Development/Innovation: Detailed insights on upcoming trends, R&D activities, and new product launches in the U.S. In Vitro Diagnostics (IVD) market.
- Market Development: Comprehensive information on the lucrative emerging markets by product, technology, end user, application, and region.
- Market Diversification: Exhaustive information about new products, growing regions, recent developments, and investments in the U.S. In Vitro Diagnostics (IVD) market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, manufacturing capabilities, and SWOT analyses of leading players in the U.S. In Vitro Diagnostics (IVD) Industry.
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